The Experts below are selected from a list of 1404 Experts worldwide ranked by ideXlab platform
Karin Mayr - One of the best experts on this subject based on the ideXlab platform.
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SKILL-BIASED TECHNOLOGICAL CHANGE, Unemployment, AND BRAIN DRAIN
2016Co-Authors: Harald Fadinger, Karin MayrAbstract:We develop a model of directed technology adoption, Frictional Unemployment, and migration to examine the effects of a change in skill endowments on the wages, employment rates, and emigration rates of skilled and unskilled workers. We find that, depending on the elasticity of substitution between skilled and unskilled workers and the elasticity of the matching function, an increase in the skill ratio can reduce both the relative Unemployment rate and the relative emigration rate (brain drain) of skilled workers. We provide numerical simulations to support our findings and show that the effects are empirically relevant and potentially sizable. (JEL: F22, J61, J64, O33) 1
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Skill-biased technological change, Unemployment and brain drain
Journal of the European Economic Association, 2014Co-Authors: Harald Fadinger, Karin MayrAbstract:We develop a model of directed technology adoption, Frictional Unemployment, and migration to examine the effects of a change in skill endowments on the wages, employment rates, and emigration rates of skilled and unskilled workers. We find that, depending on the elasticity of substitution between skilled and unskilled workers and the elasticity of the matching function, an increase in the skill ratio can reduce both the relative Unemployment rate and the relative emigration rate (brain drain) of skilled workers. We provide numerical simulations to support our findings and show that the effects are empirically relevant and potentially sizable.
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SKILL‐BIASED TECHNOLOGICAL CHANGE, Unemployment, AND BRAIN DRAIN
Journal of the European Economic Association, 2014Co-Authors: Harald Fadinger, Karin MayrAbstract:We develop a model of directed technology adoption, Frictional Unemployment, and migration to examine the effects of a change in skill endowments on the wages, employment rates, and emigration rates of skilled and unskilled workers. We find that, depending on the elasticity of substitution between skilled and unskilled workers and the elasticity of the matching function, an increase in the skill ratio can reduce both the relative Unemployment rate and the relative emigration rate (brain drain) of skilled workers. We provide numerical simulations to support our findings and show that the effects are empirically relevant and potentially sizable.
Harald Fadinger - One of the best experts on this subject based on the ideXlab platform.
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SKILL-BIASED TECHNOLOGICAL CHANGE, Unemployment, AND BRAIN DRAIN
2016Co-Authors: Harald Fadinger, Karin MayrAbstract:We develop a model of directed technology adoption, Frictional Unemployment, and migration to examine the effects of a change in skill endowments on the wages, employment rates, and emigration rates of skilled and unskilled workers. We find that, depending on the elasticity of substitution between skilled and unskilled workers and the elasticity of the matching function, an increase in the skill ratio can reduce both the relative Unemployment rate and the relative emigration rate (brain drain) of skilled workers. We provide numerical simulations to support our findings and show that the effects are empirically relevant and potentially sizable. (JEL: F22, J61, J64, O33) 1
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Skill-biased technological change, Unemployment and brain drain
Journal of the European Economic Association, 2014Co-Authors: Harald Fadinger, Karin MayrAbstract:We develop a model of directed technology adoption, Frictional Unemployment, and migration to examine the effects of a change in skill endowments on the wages, employment rates, and emigration rates of skilled and unskilled workers. We find that, depending on the elasticity of substitution between skilled and unskilled workers and the elasticity of the matching function, an increase in the skill ratio can reduce both the relative Unemployment rate and the relative emigration rate (brain drain) of skilled workers. We provide numerical simulations to support our findings and show that the effects are empirically relevant and potentially sizable.
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SKILL‐BIASED TECHNOLOGICAL CHANGE, Unemployment, AND BRAIN DRAIN
Journal of the European Economic Association, 2014Co-Authors: Harald Fadinger, Karin MayrAbstract:We develop a model of directed technology adoption, Frictional Unemployment, and migration to examine the effects of a change in skill endowments on the wages, employment rates, and emigration rates of skilled and unskilled workers. We find that, depending on the elasticity of substitution between skilled and unskilled workers and the elasticity of the matching function, an increase in the skill ratio can reduce both the relative Unemployment rate and the relative emigration rate (brain drain) of skilled workers. We provide numerical simulations to support our findings and show that the effects are empirically relevant and potentially sizable.
Ronald S. Warren - One of the best experts on this subject based on the ideXlab platform.
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The Estimation of Frictional Unemployment: A Stochastic Frontier Approach
The Review of Economics and Statistics, 1991Co-Authors: Ronald S. WarrenAbstract:This paper reports an estimate of the Frictional Unemployment rate in U.S. manufacturing that is derived from a parametric, statistical method for estimating stochastic frontiers. The steady-state, perfect-foresight solution to an estimated employment growth frontier provides a locus of technically efficient (Frictional) rates of Unemployment. The mean Frictional Unemployment rate during the sample period is estimated to be 3.7 percent of the manufacturing labor force. This estimate conforms closely to an estimate of 3.5 percent that is derived from manufacturing-sector data presented by David M. Lilien (1980) for roughly the same time period. Copyright 1991 by MIT Press.
Edward N. Wolff - One of the best experts on this subject based on the ideXlab platform.
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Side Effects of Progress
1998Co-Authors: William J. Baumol, Edward N. WolffAbstract:Consider, first, the effect of an increase in the pace of technological change on the level of Unemployment in the economy. "Frictional Unemployment" is the period of joblessness before workers can find new positions after leaving or being laid off from a job. "Structural Unemployment" is joblessness caused by the obsolescence of workers' skills. Both of these types of Unemployment will be affected by the frequency with which plants close down either permanently or for a period of reconstruction or retooling. An increase in the rate of technological change will increase the frequency with which plants close and thus will increase the portion of the labor force that is unemployed in any period. The continuous character of technological innovation is central to the increase in the rate of Unemployment that prevails through all stages of the business cycle.
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Protracted Frictional Unemployment as a Heavy Cost of Technical Progress
Social Science Research Network, 1996Co-Authors: William J. Baumol, Edward N. WolffAbstract:Neither neoclassical nor Keynesian economics displays much patience with the popular notion that technical progress of the labor-saving variety tends to swell the ranks of the unemployed. Those who believe that market forces tend automatically to bring the economy back, if not to "full employment," at least to a fairly stick "natural rate of Unemployment" seem inclined to believe that this process will wipe out any joblessness created by technical change, presumably with some modest delay. The Keynesian approach suggests (subject to some recent concessions to the notion of the natural rate of Unemployment) that the level of employment can be adjusted by macroeconomic policy and that this is capable of undoing whatever jobless ness labor-saving innovation may engender. We will argue here that there is more substance to the public's fears that new productive techniques can threaten jobs than is acknowledged by these lines of analysis. We will suggest that when technical progress is a continuing process a speedup of change can have two profound employment effects. First, it can increase, perhaps materially, what used to be referred to as "Frictional Unemployment," thereby raising the natural rate of Unemployment commensurately. Second, because of the sunk-cost attributes of the retraining of workers to enable them to use the constantly-emerging novel techniques, speedup of technical change, rather than even-handedly leading to brief periods of Unemployment to all of the workers affected, tends to single out three classes of workers, the ill-educated, the older former jobholders and women, particularly of childbearing age, either for declining relative wages for protracted and possibly for lifetime Unemployment. There is, of course, a considerable body of writings on the social costs of economic growth. By and large it has emphasized the externalities generated by the growth process -- crowding, damage to the environment, psychological tension, alienation and the like. It will be suggested here that the employment costs are arguably of at least comparable significance and that they must be taken into account more explicitly in any evaluation of a program dedicated to acceleration of economic growth.
Abdallah Zouache - One of the best experts on this subject based on the ideXlab platform.
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towards a new neoclassical synthesis an analysis of the methodological convergence between new keynesian economics and real business cycle theory
History of Economic Ideas, 2004Co-Authors: Abdallah ZouacheAbstract:This paper discusses the emergence of a New NeoClassical Synthesis in macroeconomics. It shows that the New NeoClassical Synthesis is the result of the methodological convergence that has occurred between New Keynesian Economics and Real Business Cycle theory. As a result of this convergence, the New NeoClassical Synthesis appears as an extension of the methodology of Real Business Cycle theory. This consensus is illustrated with regard to the analysis of Unemployment. An agreement has emerged between New Keynesian Economics and Real Business Cycle theory to abandon the concept of involuntary Unemployment in order to focus on the study of the impact of Frictional Unemployment on employment dynamics.
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Towards a «New NeoClassical Synthesis»? An Analysis of the Methodological Convergence between New Keynesian Economics and Real Business Cycle Theory
History of Economic Ideas, 2004Co-Authors: Abdallah ZouacheAbstract:This paper discusses the emergence of a New NeoClassical Synthesis in macroeconomics. It shows that the New NeoClassical Synthesis is the result of the methodological convergence that has occurred between New Keynesian Economics and Real Business Cycle theory. As a result of this convergence, the New NeoClassical Synthesis appears as an extension of the methodology of Real Business Cycle theory. This consensus is illustrated with regard to the analysis of Unemployment. An agreement has emerged between New Keynesian Economics and Real Business Cycle theory to abandon the concept of involuntary Unemployment in order to focus on the study of the impact of Frictional Unemployment on employment dynamics.
